If a married taxpayer is an active participant in another qualified retirement plan,the traditional IRA deduction phaseout begins at $96,000 of AGI for a joint return in 2014.

Question

Quizplus · Accepted Answer

This is correct according to the IRS rules for the 2014 tax year. If a taxpayer is an active participant in another qualified retirement plan (such as a 401(k) plan), the traditional IRA deduction phaseout begins at $96,000 for joint filers.

If a Married Taxpayer Is an Active Participant in Another